secwatch.observer — SEC 8-K summary
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Issuer:     FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA)
CIK:        0000798941
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0000798941-23-000010
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Citizens Q4 net income $243M ($16.67 EPS); adjusted EPS $20.94; NIM 3.36%
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- Net interest income $802M (+$7M QoQ); net interest margin 3.36% (-4 bps QoQ).
- Loans $70.8B (+$1.0B QoQ, 5.6% annualized); deposits $89.4B (+$1.9B QoQ, 8.4% annualized).
- Provision for credit losses $79M (vs $60M Q3); net charge-offs $24M (0.14% of avg loans); nonaccrual loans 0.89% (vs 0.65% Q3).
- Repurchased 472,586 shares for $398M in Q4; 1.5M shares for $1.2B in 2022; expects to resume buybacks in H2 2023.
- Board amended bylaws for universal proxy rules, remote meetings, eliminated 100-share director ownership requirement; director retirement age changed to 75.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798941/000079894123000010/0000798941-23-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798941/000079894123000010/fcnca-20230124.htm
  HTML page:      https://secwatch.observer/filing/0000798941-23-000010

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